Sears, Kmart Drop 31 Types of Trump Products
(Investors’ Business Daily) Add Sears Holdings (SHLD) and Sears-owned Kmart to the list of companies that are shying away from the Trump family brands.
The major retailers announced on Saturday that they would no longer carry several dozen Trump Home products, according to Reuters.
“As part of the company’s initiative to optimize its online product assortment, we constantly refine that assortment to focus on our most profitable items,” said Sears Holdings spokesperson Brian Hanover, according to a statement acquired by the outlet.
“Amid that streamlining effort, 31 Trump Home items were among the items removed online this week,” he said. Those products were reportedly sold only online and not in brick-and-mortar Sears and Kmart stores.
Meanwhile, the Wall Street Journal reported a 32% sales decline of Ivanka Trump-brand merchandise at Nordstrom (JWN) in the prior fiscal year, citing internal Nordstrom data. The data also reportedly shows a more-than-70% sales tumble of the brand’s footwear and clothing items in the second, third and fourth weeks of October vs. prior-year sales. Those weeks marked the period leading up to the election.
Boycotts of Trump-branded goods have surfaced in the form of the Grab Your Wallet campaign and criticism online. The President fired off a tweet at Nordstrom on Wednesday, less than a week after reports emerged that the upscale department store was dropping his daughters line of merchandise.
While this is far from the first time that Trump has singled out an individual company on Twitter (TWTR), his tweet at the department store has raised concerns about ethical conflicts of interests and a blurred line between his roles as president and businessman.
Despite the attack, Nordstrom shares rose sharply on Wednesday to notch its biggest one-day gain in two months….